 "Home truth: NCR's unsold inventory dips 26% since RERA, shows data")
The vast residential real estate market in the National Capital Region (NCR) — second largest in the country — has undergone massive transformation since the introduction of the Real Estate (Regulation and Development) Act, 2016.
A market that was once the happy hunting ground for local, unorganised players has since become organised with the entry of big realtors like Godrej Properties, Tata Housing, Shapoorji Pallonji Group, Sobha, Mahindra Lifespaces, and Birla Estates.
While it continues to take the strain of 328,000 stalled units launched before 2015, unsold units since early-2016 have come down 26 per cent. With the exit of 15 local players since 2015, new launches, too, have dropped 73 per cent. But the government’s push for affordable housing has given an added impetus to the segment.
The share of housing units priced below Rs 40 lakh has grown 51 per cent in four years.
A market that was once the happy hunting ground for local, unorganised players has since become organised with the entry of big realtors like Godrej Properties, Tata Housing, Shapoorji Pallonji Group, Sobha, Mahindra Lifespaces, and Birla Estates.
While it continues to take the strain of 328,000 stalled units launched before 2015, unsold units since early-2016 have come down 26 per cent. With the exit of 15 local players since 2015, new launches, too, have dropped 73 per cent. But the government’s push for affordable housing has given an added impetus to the segment.
The share of housing units priced below Rs 40 lakh has grown 51 per cent in four years.
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